Wall Street Breakfast U.S. expands blacklist, tightens tech grip on China
Mar 26, 2025
The U.S. tightens its grip on China by blacklisting over 50 entities, aiming to curb AI advancements. Meanwhile, GameStop surges as it hints at investing its cash reserves in Bitcoin. Additionally, Grab is reportedly pursuing up to $2 billion in loans for a potential takeover of GoTo. The podcast also touches on stock market fluctuations and Trump’s rumored copper tariffs that could impact trade dynamics.
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US Blacklists Chinese Entities
- The U.S. blacklisted over 50 Chinese entities, along with others from several countries.
- This aims to restrict China's access to high-performance computing and quantum technologies for military use.
GameStop Q4 Performance
- GameStop's Q4 revenue dropped 28.5% year-over-year, but the company saw a net income of $131.3 million.
- Despite this decrease in revenue, their EPS exceeded expectations, and they hold significant cash reserves.
Grab and GoTo Potential Merger
- Grab is seeking a $2 billion loan to potentially acquire GoTo, an Indonesian tech company.
- Previous merger attempts failed due to antitrust concerns.